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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US DATA
- ADP employment increased by more than expected in December, at 164k (cons 125k) from a marginally downward revised 101k (initial 103k).
- Gains were mostly solid across a range of firms except for the second-largest category of 250-499 employees.
- Analyst consensus for private payrolls in tomorrow’s release stands at 130k, unlikely to altered by this ADP beat after weak correlation between the two -- comparing latest vintages, ADP undershot private payrolls by an average -45k through Sep-Nov having overshot by an average 200k in Jun-Aug owing to a particularly large 369k overshooting in June.
- ADP’s Nela Richardson: "We're returning to a labor market that's very much aligned with pre-pandemic hiring. While wages didn't drive the recent bout of inflation, now that pay growth has retreated, any risk of a wage-price spiral has all but disappeared."
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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